Qualcomm Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Qualcomm Inc. (QCOM) announced a profit for its second quarter that rose from last year.

The company's profit totaled $0.7 billion, or $0.55 per share. This compares with $0.3 billion, or $0.22 per share, in last year's second quarter.

Excluding items, Qualcomm Inc. reported adjusted earnings of $0.9 billion or $0.77 per share for the period.

Analysts had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.8% to $5.0 billion from $5.2 billion last year.

Qualcomm Inc. earnings at a glance:

-Earnings (Q2): $0.9 Bln. vs. $1.2 Bln. last year. -EPS (Q2): $0.77 vs. $0.78 last year. -Analysts Estimate: $0.71 -Revenue (Q2): $5.0 Bln vs. $5.2 Bln last year.

-Guidance: Next quarter EPS guidance: $0.70 - $0.80 Next quarter revenue guidance: $4.7B - $5.5B